New Delhi : With a robust monsoon cheering farmers across the country propelling the demand for agro products, Insecticides (India) Ltd. (IIL), the country’s leading and one of the fastest growing agro chemicals manufacturing companies, today reported strong growth for the first quarter ending June 30, 2013.

The company registered steady growth in its sales increasing its turnover by       33 per cent to Rs. 197.63 crore during the opening quarter of financial year 2013-14 ending June 30, from Rs. 148.83 crore in the same quarter last fiscal.

The company’s net profit grew by 21 percent to Rs 14.17 crore in this quarter from Rs 11.72 crore in the same quarter in financial year 2012-13. The growth has come from the technical at about 19% and from Branded business around 40%.

The remarkable business growth of IIL was also assisted by two new products launched last year, Hakama and Nuvan, where revenue of Rs 16 Cr. from Hakama and Rs 11 Cr. from Nuvan has come in the first quarter as compared to a revenue of Rs 8 Cr from Hakama and Rs 27 Cr from Nuvan in the last complete fiscal year.

Being one of the leading companies in the Indian agro chemical industry, IIL recorded remarkable growth across all key performance indicators including Turnover, Profit After Tax (PAT) and Earning Per Share (EPS).

The basic and diluted EPS for the three months of this fiscal year stood at Rs 11.17 from Rs 9.24 in the corresponding period of last year.

On the company’s growing performance, Mr. Rajesh Aggarwal, Managing Director, Insecticides (India) Ltd. (IIL), said “Figures are encouraging for the Q1, clearly reflecting the increasing demand for our products. It is good to see that Indian farmers are adopting the newer technology. We expect good contribution from our new products in the Q2 as well.”

The leading and most popular brands in kitty of IIL include Nuvan, Pulsor, Hakama Lethal, Victor, Thimet and Monocil to name a few.

Source : Shaida Sharma